QUESTION 27 omal cost system and had the following data available for 2010 system and Wayland Manufacturing uses a cost Direct materials purchased on account Direct materials used for production Direct labor cost incurred $ 148,000 82,000 130,000 Factory overhead incurred Cost of goods completed Cost of goods sold 146,000 292,000 256,000 Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct-labor costs 26,000 64,000 58,000 125 percent The ending balance of work-in-process inventory is $130,000 B S146,500 O C. $438,500 D S422,000 QUESTION 28